Carlyle Capital in default on loans

March 7, 2008

Carlyle Capital Corp. Ltd., a unit of Carlyle Group, a Washington D.C.-based private equity group, did not meet banks' margin calls on its $21.7 billion portfolio, according to several news services.

Last fall, Carlyle Capital bought Allison Transmission in Indianapolis from General Motors Corp. for $5.6 billion.

Carlyle Capital has received several notices from banks indicating it was in default on loans. Those loans fund certain home mortgage bonds from Fannie Mae and Fannie Mac.

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